In the latest in a series of announcements of high-value deals, Elbit Systems Ltd. (TASE: ESLT; Nasdaq: ESLT) announced today that it had been awarded a contract valued at approximately $106 million to supply SIGMA fully automatic self-propelled howitzer gun systems to a country in Asia-Pacific. The contract will be fulfilled over a five-year period.
SIGMA is a 155mm/52 calibre self-propelled howitzer capable of automatic loading and laying of the gun system, rapid in-and-out action times and high rate of fire. It offers a protected cabin for a crew of three. "Depending on the mission, SIGMA is capable of automatically selecting and loading the required projectile, propellant and fuse and laying the gun to optimally engage targets," the company's announcement says.
Elbit Systems CEO Bezhalel (Butzi) Machlis said: "The SIGMA system effectively addresses the growing need of armed forces to enhance the effectiveness of their artillery formations and reduce life-cycle costs while improving precision, rapidity, autonomy, survivability and connectivity. The SIGMA system is based on the know-how and experience accumulated by the company over decades in supplying artillery systems to numerous customers, including the new 155mm fully automatic self-propelled howitzer gun systems for the Israel Defense Forces."
Published by Globes, Israel business news - en.globes.co.il - on November 15, 2021.
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